Mortgage provider went bust

HeadZuki

In 2013 GMAC went bust. My wife had a mortgage with them. Is there any chance of reclaiming anything at all? Really. Thanks

AnotherJoe

What would you be reclaiming?? On what grounds?

[Deleted User]

I think they were offering a choice of a Sony Walkman or a £15 Woolworths voucher with every mortgage.

Claim yours while stocks last.

Nasqueron

If you feel you were miss-sold something you complain to whoever sold it - most people get a mortgage via a broker or IFA so not necessarily GMAC. What are you unhappy about?


Nobody "reclaims" anything

dunstonh

IIRC, GMAC didnt sell PPI

HeadZuki

Thanks for all the replies.
I got a hamper from black horse with a loan once.
Anyway that's another story.

:A I'm just wondering if there was anything added to her re mortgage she wasn't aware of. GMAC were the only option at the time. We had little choice then and she was vulnerable.
We've agreed to look into the financial dustbin to see if there's anything to salvage.
The broker was John Charcoal iirc. Maybe there were unfair charges, excessive commissions or inappropriate insurance? It all felt a little confusing.

So unlike her other two extant providers (mortgage now paid off) can we make enquiries after GMAC please?
Thanks again

[Deleted User]

HeadZuki wrote: »

Maybe there were unfair charges, excessive commissions or inappropriate insurance?

You'll need to narrow down what it is you think they've done wrong.

It all sounds a bit random at the moment.

AnotherJoe

HeadZuki wrote: »

Thanks for all the replies.
I got a hamper from black horse with a loan once.
Anyway that's another story.

:A I'm just wondering if there was anything added to her re mortgage she wasn't aware of. GMAC were the only option at the time. We had little choice then and she was vulnerable.
We've agreed to look into the financial dustbin to see if there's anything to salvage.
The broker was John Charcoal iirc. Maybe there were unfair charges, excessive commissions or inappropriate insurance? It all felt a little confusing.

So unlike her other two extant providers (mortgage now paid off) can we make enquiries after GMAC please?
Thanks again

Dear John Charcol. I wish to complain that although no other provider would supply my wife with a mortgage, you found soemone who would. On the basis that No Good Deed Goes Unpunished, please send bags of compensation immediately.


That appears to be the gist of your complaint?

Nasqueron

HeadZuki wrote: »

:A I'm just wondering if there was anything added to her re mortgage she wasn't aware of.

If she didn't know, how would we?
Nothing was added to mortgages without your knowledge, you signed up to take whatever insurance etc you wanted or you had to buy insurance to get free advice - both fine

HeadZuki wrote: »

GMAC were the only option at the time. We had little choice then and she was vulnerable.

She chose to take out the mortgage, she was not vulnerable.

HeadZuki wrote: »

We've agreed to look into the financial dustbin to see if there's anything to salvage.
The broker was John Charcoal iirc. Maybe there were unfair charges, excessive commissions or inappropriate insurance? It all felt a little confusing.

A broker then, pre-2005 sale? If so, complaint is over, they were not regulated.

Unfair charges - nope, if you didn't like the charges walk away
Excessive commissions - unlikely, sales commission for brokers is fine and rarely, if ever, enough to qualify under Plevin
Inappropriate insurance - you don't even know what she had, if anything. Life insurance, building insurance, contents insurance, even MIG are all possible but difficult to argue they were not needed, indeed, some might have been mandatory

HeadZuki wrote: »

So unlike her other two extant providers (mortgage now paid off) can we make enquiries after GMAC please?
Thanks again

You can complain about anything you like, whether they have to consider it or if you have a valid complaint is a different matter.

dunstonh

'm just wondering if there was anything added to her re mortgage she wasn't aware of. GMAC were the only option at the time. We had little choice then and she was vulnerable.

If there was, then it would not have been added by GMAC.

Her details are not in the public domain. So, people on the internet are not going to be able to answer that.

The broker was John Charcoal iirc

And that is who you ask.

Maybe there were unfair charges, excessive commissions or inappropriate insurance?

None of those applies to this scenario.

HeadZuki

Thanks everyone. I totally appreciate the rigor you all have applied. In the event GMAC didn't offer PPI and that it would be the broker who would be liable anyway I've been given all the answers I believe I could need. If that's incorrect please let me know otherwise I think I'll say that I've ticked GMAC off my priority list.

Best wishes !